Africa Energy (CVE:AFE) Stock Passes Above 50 Day Moving Average – Here’s Why

Africa Energy Corp. (CVE:AFE) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$0.13 and traded as high as C$0.15. Africa Energy shares last traded at C$0.15, with a volume of 6,000 shares trading hands.

Africa Energy Price Performance

The stock has a market cap of C$69.48 million, a price-to-earnings ratio of -1.28 and a beta of -0.16. The company has a debt-to-equity ratio of 28.69, a current ratio of 0.25 and a quick ratio of 28.20. The stock’s 50 day simple moving average is C$0.13 and its two-hundred day simple moving average is C$0.14.

Africa Energy Company Profile

Africa Energy Corp. operates as an oil and gas exploration and production company in South Africa and Namibia. The company focuses on potential gas condensate development on Block 11B/12B offshore in South Africa. It also holds interest in the Block 2B offshore the Republic of South Africa. The company was formerly known as Horn Petroleum Corporation and changed its name to Africa Energy Corp. in March 2015. Africa Energy Corp. is headquartered in Vancouver, Canada.